The single currency, conceived to cement European integration, has revived historical
animosity between Greece and Germany, particularly in public opinions expressed on Athens
streets and in German tabloids. A lot has happened since Mr. Tsipras called a referendum.
The referendum caused banks to close and the European Central Bank to cap emergency
lending resulting in the Greek economy needing more money over a longer period (until
2018). After brutal overnight talks, Monday’s deal pushes Greece into a financial abyss
and increases political and economic strains in a country already in depression. Many
believe, ‘Greece is still nominally part of the Eurozone. But the conditions Germany won
to punish the country for its misdeeds could easily topple the fragile Greek coalition
government. Economists believe that Greece’s separation will not settle Greece’s
relations with the rest of Europe. Whatever Greece decides there will be an angry
population within the euro or an angrier population outside of it. The feuding could last
for years. see: http://www.economist.com/blogs/freeexchange/2015/07/greece-and-its-
creditors?zid=307&ah=5e80419d1bc9821ebe173f4f0f060a07